BRICS Expansion Could Reshape Global Energy Markets

From August 22nd to 24th, BRICS leaders are set to convene in South Africa, marking a pivotal moment for this loosely knit coalition of major non-Western nations including Brazil, Russia, India, China, and South Africa. The conference aims not only to strengthen cooperation but to forge a robust international alliance designed to counteract Western influence. Amidst this strategic push, BRICS seeks to expand its reach, encompassing a multitude of countries from the “Global South,” with Africa, Latin America, and the Middle East at its core.

Heads of state such as Russia’s President Putin, China’s Xi Jinping, and South Africa’s President Cyril Ramaphosa have made clear their intentions: challenging the entrenched geopolitical dominance of the West. However, cracks in this united front are already evident. Vladimir Putin’s absence, driven by fears of arrest over war crimes in Ukraine, casts shadows over the project. Simultaneously, India, a BRICS heavyweight, is wary of China’s ascendancy potentially sidelining its interests within the alliance.

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